Retail Management: The Next Big Thing

Are you thinking of starting a new business and not able to decide which business should it be? Are you trying to find out a sector which can not only help you in maintaining a constant flow of income but also prove to be profitable at the same time? If you are searching for a challenging, creative, lucrative and rewarding career sector then Retail Management might be the right step ahead.

Retail is transaction of goods and services between the seller and the end user. It involves single point selling from malls, shopping outlets, stores etc. to the end-user for the product’s final consumption. In India, retail sector is both organized as well as unorganized.

Retail sector in India and abroad has tremendous growth opportunities. Comprising of around 14-15 percent of the total GDP, the retail sector in India is one of the top five retail markets in the world. It is estimated to be around US $ 450billion. India is also believed to be one of the fastest growing markets in the world. Globalization and liberalization of the Indian economy in 1991 has made it possible for the world to explore the huge market that India is.

The required skill-set can be gained through retail management courses and training programs. Since, retail management is one of the hot-cake career options in the market so there are a lot of retail management training courses in the market both online and offline courses.

There are various online certificate courses in Retail management. EduKart.com has also designed comprehensive certificate courses in the diverse fields of retail management. These certificate courses encompass spheres like category management and retail buying, retail store operations and customer marketing etc. These courses are especially designed to make the students abreast of the various nitty-gritties of the retail sector.

According to EduKart.com observation retail is one of the hottest sectors in India. An online course in retail management can take you to new heights and your career graph is sure to shoot up. All you need is the right industry oriented training which can help you flourish in the market.

For more detail about the course, visit the following link: EduKart.com: Retail Management courses

How Retail Management System Software Solutions On Cloud Can Be A Smarter Move

Building business is an uphill task, which would be rightly seconded by anyone, who has brought up a successful enterprise. There are plenty of things to be taken care of starting from the initial stage of planning to the reaching for the product or the services to the users. Stages in-between are also required to be checked out properly so as not to break the chain of actions.
For the retail businesses, these stages are to be watched out more carefully because the business goes through a number of steps. Watching out for each step is necessary for a complete business success and therefore the cloud software solution has been brought into action. Retail management solutions are being provided by the cloud computing companies who have retail business management software in their clouds. Retail management system software will be allocated to the enterprise that seeks the services and there is a licence and charge for that too, unless the business has its own cloud system.
But in majority of cases, those companies, which are having cloud, let the spaces be used by retail businesses. Mostly the small and medium scale enterprises are interested and coming out for having a share of the cloud software solution so that their retail management solutions are carried out without any glitches.
Easing the stages
Retail sales software can be used to keep a tab on the sales that is being done on a day to day basis. This can be done without even checking or counting manually the number of sales because the data is automatically programmed to reach the cloud where the retail sales software stores it. With right backup and security provisions, these data are also not feared to be lost or broken.
Sufficient network and power back up is to be provided for efficient and continuous sales monitoring. Retail store POS software helps in various ways for keeping the data fixed in the cloud. Point of sale is the place where the sale is being calculated. There can be many such points in a retail counter and by doing so, quick attention to customers can be provided.
Number of people can be cleared as quickly as possible, which indirectly leads to lack of queues and loss of time. Also, the manual labour will be decreased with cost cutting for the company as well as lowering the overhead charges. Retail businesses will now be able to divert their attention towards better products instead of thinking about how to keep an eye on the sales.
Supply chain management store, which also works with the same kind of principle also can use the retail management solutions or supply chain management software that are provided through the cloud computing. The same holds true for garment ERP software, where the garment shops can conduct their business with the help of cloud software solution.
With retail businesses growing in number, the need of retail business management software will be more and this will lead to better growth of the retail industry. In the coming years, various IT companies are trying to smooth their cloud software and bring better scalability and security into the system. Although retail industry is being benefited with the solutions provided by the cloud, the options for development and better functioning are possible with many other businesses.

3 Points To Be Noted While Buying House ERP On Cloud For Retail Businesses

Since the time information technology has been harnessed by people, businesses and enterprises have seen a boom time. Various business establishments are trying to harness these resources for their benefit, so that there is better management of time, money and personnel. The most recent beneficial move in terms of information technology has been in the matter of cloud computing.
Small and medium scale enterprises are getting together to get their space in this cloud and conduct their business. Retail management solution on cloud has become a common thing with systems like ERP or Enterprise Resource Planning, CRM or Content Resource Management, POS or Point of Sale, etc. These are systems that are required to be available for carrying out an effective and efficient retail business. If retail software on cloud is available, then there can be easy integration of the supply, returns, customer services, product sale and financial management.
Although cloud retail software or home buying software will instil a new way to conduct the business, the retail solution on cloud requires the enterprise owners to take care of few aspects when buying house software on cloud or retail ERP on cloud. It is known that the cloud provides a space for the designated businesses. But then, there are things that the business owners should be alert and knowledgeable about.
* Retail management solution on cloud will require backup and security when their data is present in the could computing system. For this, those buying house ERP on cloud should check for power and network outage backup, 24×7 customer care services, and time bound assistance. Data backup, virus scans, online security checks, firewalls, etc are supposed to be in place when the retail solution on cloud is provided.
* Checking the usability of the ERP on cloud is another point that should be noted by those who are buying house ERP on cloud. Software that is to be utilised in retail or buying house should be user friendly. Also, there should be easy accessibility of the applications in the cloud, which the workers in the business or enterprise can find out quickly in case of applying for the business. If the enterprise resource planning is done properly, then the logistic issues will become easier and retail enterprises can lower their distribution costs and charges. The software for retail should be therefore sought out properly and with sufficient promise of performance.
* Retail solution on cloud should also include sufficient scalability options. The core of retail business is based on quick service and immediate availability. For such businesses which are aiming to expand, with the right retail management solution on cloud, one can quickly order for items to be refilled and check on the status of the products that are being sold. Tier-4 data centre is to be provided through the cloud retail software, so that sufficient data can be stored and if required, it can be scalable.
Plenty of features are necessary for a retail business to grow and all of these will be possible through the right retail software on cloud. ERP on cloud, POS on cloud and various other retail solutions on cloud can be used to bring prosperity to the business, for both small scale and large enterprises.

Leasing Retail Space – Using a Broker

Tenant Rep Brokers

Tenant rep brokers are a great option for your retail space search. Their fee is paid by the landlord in most markets. They are retail space experts. Every day, they work on finding and negotiating agreements regarding retail space. Even if you started the retail space search with an online search service, using a retail tenant rep broker will probably generate the most cost-effective retail space for your business.

Get an Expert!

If you select a tenant rep broker to help find your retail space, find an expert. Do not hire the person who helped you purchase your house. Retail space tenant rep brokers are full-time experts. It is a very specialized area. You would not even want to utilize the tenant rep broker who helped find office space for your administrative staff.

Identify Tenant Rep Brokers

Use a search engine to identify perhaps 5 or 10 retail tenant rep brokers in your area. Do your initial research by reviewing their website. Are they retail space experts? Call and interview perhaps five to seven by a phone.

Phone Interviews

Ask about assignments they’ve recently completed, how many years they’ve been in the retail space tenant rep business, how much retail space they leased in the prior year, and which retailers they represent in the local market. You may feel comfortable selecting retail space tenant broker after the phone calls. It is certainly helpful to find someone who has helped other retailers in your same line of business. They will have insights which could be meaningful.

Meet Tenant Rep Brokers

Set up meetings with two or three of the tenant rep brokers if you have not chosen one after the first round of phone calls. The objective is to visit more regarding their retail assignments, obtain their thoughts on an appropriate retail space for your business, and determine whether you will feel comfortable working with them.

Obtain Actionable Advice

While you make the final decision when selecting a retail space, you will want to feel confident the retail space tenant rep broker will provide actionable advice.

Paid by Landlord and Advices You?

The compensation arrangement with the tenant rep broker is often not intuitive. In most cases, the tenant rep broker will be paid by the landlord. He has a fiduciary relationship to the landlord. His relationship with the perspective tenant is to provide honest information. Your retail space tenant rep broker will go out of his way to accommodate you and help with the search process. However, remember that his client is the landlord. If you discuss your negotiation strategy or the maximum amount you’re willing to pay, the broker has an obligation to provide this information to his client, the landlord.

The Best Retail Jobs in the Spotlight

Even though jobs in the retail sector may seem easy to get because of the large number of vacancies, they usually go out to people who are able to stand out. Regardless of whether you are looking for your first ever job, are already working in the retail sector and wish to take advantage of other opportunities, or want to shift from another industry, there are certain tip that will make the search for retail jobs easier for you. Since the interview is the most important component of any job application procedure, it should be focused on.

Your resume is the first impression any potential employer will have of you. The thing that stands out in resumes is quantities. For instance, instead of saying that your performance improved the sales of a previous company you worked with, you should quantify by exactly how much these sales increased. If you have previously worked in the retail sector, you need to specifically mention the type of companies you have worked for as well as the exact responsibilities you held in the job. The name of the company and your job title will not do you much good in the resume. Past retail experience should always be highlighted in your resume when applying for retail jobs.

Before applying for a particular company in the retail sector, you must carry out a thorough research about the company and the kind of products it sells. This information is usually available online or can be gathered by visiting a retail outlet of the company. Before the interview, you should carry out some additional research on the company as this will help you deal with certain specific questions. If you have not worked in retail before and are shifting from another industry, your knowledge of the company’s products is bound to be even more impressive and give you an edge over other candidates.

Flexibility and commitment are two things that are sure to be a win in retail jobs. Make sure you mention these in your resume or cover letter, and emphasize on it again in your interview. Most retail stores are open 24 hours a day and hence you need to mention if you can be flexible in your working hours. Moreover, you should also state that you will be able to work some extra hours during high demand seasons. These two aspects are particularly important for those who are getting their first ever job or are moving from another industry. Make sure you highlight the skills you have previously acquired from professional experiences or volunteer work.

How to Get Into Retail Jobs beyond the Shop Floor

When people think of retail jobs, the first thing that normally comes to their mind is organizing book shelves and acting as a sales representative in guiding customers through the sections in the shop. However, you must realize that these are not the only opportunities that prevail in retail. In fact, there are several other types of jobs that can be undertaken. Although those mentioned above are the most commonly available jobs in retail, they are not the only ones. One of the many misconceptions associated with the retail sector is that they have very limited prospects for growth and progress. However, real life examples have shown that this is entirely false. People who have started off with entry level retail jobs have risen to the position of sales assistants and even sales managers.

The advantage of starting with entry level retail jobs and then making your way up the hierarchy is that you get to learn a great deal in each role that you undertake in the retail business. You also gain a lot of valuable experience which will eventually be of great help when you are hired in the position of managers. Many people also perceive the retail sector to be an inappropriate option for graduates and those with professional qualifications. Conversely, statistics have shown that a good percentage of graduates have chosen management positions in the retail sector in recent years.

Contrary to popular belief, retail jobs do not only involve helping out customers on the shop floor and all the direct activities related to selling. In fact, there are several other jobs associated with the support system that exists in every organization, such as the IT and HR departments. Taking the example of IT, we have seen how its importance has grown acutely over the past few years. Not business is complete without a well-managed IT department that keeps a record of the transactions, stock management and allows them to achieve everything in the minimum possible time. The existence of IT has made the retail sector much less burdensome for those working in it. IT is also used for security purposes, customer service and even for recording purchases.

Other than IT, the HR department is also very promising for those interested in retail jobs. This department often requires a large number of staff to meet the growing demand for its products. If they fail to meet the necessary requirement for staff, the demand for the products will fall considerably and the image of the company will suffer. This department provides the necessary administration and human resources that ensure the smooth functioning of the organization.

Rules in Retail Jobs

In the highly competitive job market of today, survival of the fittest is the rule that is followed. This rule is particularly true when it comes to the retail sector. Moreover, you might also have to resort to being selfish and taking advantage of the opportunities available to others in your fight for survival. However crude this may seem, you will have to follow this system in order to be successful in the retail market. Because of the fact that there is such stringent competition in the retail market, people are finding it harder and harder to keep retail jobs for long periods of time. The negative impact that the competition has had on the retail market has led to many people struggling to keep a hold on their jobs.

If we take a look at the past, we will see that there was a time when there used to be a harmonious relationship between the different workers in a retail chain, such as the owners, suppliers and the employees. This relationship has dissolved today to become one of competitiveness and the drive to outshine each other in making the highest possible profits. Most businesses have lost the sense of benefitting all their stakeholders equally, and this has resulted in the massive downfall of several retail businesses. If there were a positive relationship between suppliers and owner, they would be completely fair and honest in their practices and conduct towards each other. Since both would be working towards a common interest, there would be an overall higher flow of profits in the retail business, leading to a higher level of satisfaction amongst the employees.

When it comes to retail jobs, the factor of trust is essential amongst the various parties. There is no doubt about the fact that it does take some time for trust to develop between different parties. What they should look to achieve, essentially, is a common goal so that they can work in harmony towards achieving it. If everyone is doing their jobs fairly, there will definitely be an overall increase in productivity. Suppliers will be satisfied with the business and willing to offer favorable terms, while the employees will be motivated knowing that their hard work will be rewarded.

Although many people feel that cheating on others and working for your own personal goal is the only way to be successful in retail jobs, there is a bigger picture to it. If they try working together instead, they will realize that it much less burdensome and much more profitable than the former option. What each and every member of the retail business must realize is that a collective growth results in personal growth and achievement of personal aims and objectives. Once this connection is made clear, the retail business will definitely flourish.

Tips for Searching for Retail Jobs Online

If you have freshly graduated from college and are looking for a job, the retail sector is a worthwhile option. Finding retail jobs has become very convenient with the widespread use of the internet. However, before searching for these jobs online, there are several factors you should take into consideration that will help ensure that your search yields positive results.

When you are searching for retail jobs online, you must perform searches several times a day. This is primarily because the retail sector is growing at a very fast pace, as a result of which numerous job openings are made available on a daily basis. Even if you live in a very small city or town, you will still witness new jobs in the retail sector every day. Performing searches over and over again automatically means that you are improving your chances of getting hired in this sector. Another factor you must keep into consideration when performing the online job search is that you should use an application or a website that produces results from numerous job sites at the same time. The advantage of this is that you get to save a great deal of time, and you also get access to a significantly larger number of job sites.

Another factor to consider when searching for retail jobs online is to know which keywords to enter. For instance, regardless of whether you want to become a cashier, stocker or a customer services representative, you should search with the keyword “retail”. This will produce all the results that are available in the retail sector currently. If, on the other hand, you are absolutely sure of the position you wish to apply for, you should search with the name of that job title. For instance, for manager level jobs, you could search for “retail manager”. The above examples demonstrate that you need to know exactly when to be specific in your search and when to perform a general search.

Once you are done with the search for retail jobs, you must examine each job listing in detail. This ensures that you do not leave out any of the details when making a final decision about which ones to apply for. You must see if the job listing suits your capabilities and requirements. For instance, if a job requires you to work overnight and you cannot do so because of other responsibilities, you should immediately filter that listing from your search. Try to focus on the listings that meet the working hours you can fulfill and the qualifications and skills you possess.

Retail Display Fixtures: Important Elements For Store Merchandising

It is advisable that as a retail store owner, you are able to promote your store merchandise effectively to your customers. Retail display merchandisers are one of your key factors that you should consider because they are the store fixtures that hold your merchandise together. Whether these are clothing displays, sunglass displays, slatwall displays, hat displays or other point of purchase displays, they hold your products and arrange them accordingly.

There are numerous items in shopping centers who are competing for attention from customers. Retailers must find creative methods to make their products stand out from the others in order to boost brand sales. You can use POP retail displays to market your items.

There are three main categories of retail store fixtures:

1.Floor Stands are retail displays, which can be placed anywhere on the retail floor and host a variety of product categories. It is the most often deployed display type, because it can withstand a huge amount of product weight for a very long time.

2.Counter retail displays are put on tables and counters where space is really limited. They often entice impulsive shoppers to buy items while waiting to check out.

3.Retail signs have a high impact on product branding and are often combined with retail displays to emphasize a products feature. Some of very simple but highly effective merchandising solutions can be little more than an eye-catching well-placed retail sign.

Now, how do you set up your ideal retail store fixtures? Here are a few tips:

1.Analyze and study your product’s features. First of all consider the weight, shape, size and color of the product you would like to promote using your retail fixtures. Check what is special about this product and how can you make the most to accentuate its features

2.Consider the seasonal theme of your shop. Think about which materials and elements will fit best your store design. You always want to emphasize and highlight your displayed product, but don’t want to risk to destroy the overall presentation and look of your store and end up picking the wrong materials and colors for your retail display.

3.Understand your customer demographic. Who is going to be most likely interested in the product your are planning to showcase?

4.Pick a type of point of purchase retail display. It depends on where in the store space you are planning to place your retail fixtures, there are countless choices on how you can design your fixture.

5.Address the message of your brand. You can think of a special feature or a brand slogan you want to address to customers and utilize graphics, banner and signs to make your product attactive.

6.Get some craft and design inspiration. Browse and search through the web and find some retail displays that is nearest to your needs.

7.Search for a good and trustworthy source for your retail store display. Study their industry specific expertise and review some of their projects with other manufactures.

When you are able to set up your store with customized retail displays, you can see that your products will stand out on their own which will entice your clients to look at your products and in the end, buy them.

The Retail Side Of Electricity

The retail side of electricity involves the final sale of power from an electricity provider to an end-use consumer. Sale of electricity ranges from the service for a large manufacturing facility to that for small businesses and residential households.

Some states allow for retail competition between electricity providers. Regardless of whether the state is regulated or deregulated for electric service, supply is obtained either through the open, competitive wholesale market or from utility-owned rate-based generation. In some cases retail electric energy is purchased from a combination of these means.

In states where retail competition for electricity and other energy sources exists, customers have the choice between their current electricity supplier and other competitive suppliers. Competitive retail suppliers offer a variety of service plans and can provide service to certain geographic areas.

The competitive retail market allows providers to market to customers based on price and service. These retail providers may offer payment plans that consider price fluctuations, options for alternative energy resources and innovative energy efficiency projects.

Retail electricity markets are regulated at the state level by state regulatory commissions. These commissions regulate distribution utilities’ costs and rate of return for use and maintenance of the distribution system.

States that do not allow for retail electricity competition the commissions regulate the expenditures of the monopoly utilities by allowing a rate of return on most costs. In these cases utilities may construct, own and operate power plants at the ratepayer’s expense.

Although market structures vary from state to state, there are some common functions that an electricity retailer is required to perform, either individually or by way of a contract, in order to compete effectively. These include billing, credit control, customer service and management through an efficient call center, distribution, reconciliation agreement, “pool” or “spot market” purchase agreements, and hedge contracts.

This restructuring of the retail electricity industry is transforming the historically monopolistic industry and changing the way electricity is priced, traded, and marketed in the United States. Over the past forty years retail customers have seen prices unadjusted for the effects of inflation High construction costs and increased fuel prices contributed to rising prices for retail electricity in the 1970s and 1980s but improved operating efficiencies and reduced construction costs caused retail electricity prices to stabilize in the 1990s. Currently the United States is enjoying the lowest electricity prices since the late 1960s.

Retail prices for electricity vary considerably based on geography. In general states in New England and the Northeast have the highest average retail electricity prices while Northwest states tend to have the lowest. These variations in prices are caused by a number of factors including access to low-cost fuels for generating power, state taxes, and the mix of power plants in the states

The future of retail electricity is unpredictable. Factors such as capacity, weather, fuel prices, electricity demand, and electricity generation, transmission and distribution costs will impact retail prices into the future. The effect of competition at the retail level is also unknown.